He has officially decided to go back to academicia.
Dr Swamy is happy and Ndtv is pitching as if it is the end of the road.

My usual confused/ balanced* view is that he was not as bad as Dr Swamy painted him to be but his departure is not the end of the world. One detractor has pointed out that all the previous RBI governors were fools. Now that would also include a former PM. Other notables were RN Malhotra (his committee paved the way fur private insurers) C Rangarajan ( who went on to become the governor of AP) and Bimal Jalan.

*whichever way you look at it.

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This is quite a game, politics. There are no permanent enemies, and no permanent friends,only permanent interests. - Some Firang

Rajan was primarily chosen by Chidu another fellow Madrasan. I'm sorry to say this but one has to be blunt in saying like it is. These people are largely ignored so wherever and whenever they get chance they try to impose madrasipanna on rest of India, this is no secrete. For them, India seems to be subset of Madras not other way round.

In any case, I feel Rajan is overrated material. If the economy does even better than it is now post Rajan, no one is going to give credit to this Govt but if it doesn't then all the guns will be on this Govt and Rajan will become hero. But that is how life is and you have to take a unpopular decision when no one believes in you.

This govt should take this very personally and all the more reason to see that economy and inflation does better. Get someone who is not theoretically educated with tons of big degrees but some one who is practically intelligent and is determined, similar to Modi Vs Manmohan. If you have a WILL everything can be done.

So looks like a number of factors have worked against R3. May be Dr. Swamy had brought up other things (sounding frivolous to some) instead of actually stating what Modi wanted to say. That R3 should have known better than to have spoken on opposition's behalf on the topic of intolerance.

Quote:

It was Rajan's own forays into politically sensitive territory that led him being targetted in particular over a speech last October to students in Delhi in which he said that social tolerance was vital for a country's development.

"No-Go zone"

The issue of "intolerance" has been a catalyst of controversy under Modi, driving to the heart of whether the overt message of development for all that he campaigned on to win the 2014 general election can hold, or whether a more divisive Hindu-first agenda will prevail under his party's rule.

"It was Modi who protected him for the longest time but the defence wall collapsed when Rajan entered the no-go zone of politics," one senior RSS official said on condition of anonymity.

If you look at Rajan, all he is seen doing is giving a cute smile all the time like a 5th grader with nothing better to do. One other thing he did was to give interviews to NDTV, take part in intolerance debate and how wrong he was. Where is intolerance and award wapsi now? If there is intolerance, it should last more than 2 months.

Instead of doing his work he was busy doing philosophy. I say get someone who is well grounded, practically intelligent and not bookish.

Check out a few famous videos of his now famous 'dosa analogy' if you haven't before.

Raghuram Rajan uses 'dosa economics' to explain inflation

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He was the most talkative and media savvy RBI governor yet, his predecessors were quiet and boring, you only saw their signature on the notes.

As i said earlier, one of them ended up becoming the PM (because he is quiet and boring, madame was sure he would not do a rebellion). More notable one is C Rangarajan. He was the governor of AP and orissa for some time. Some columnist (maybe Jairam Ramesh) commented how such a brilliant economist is being wasted away in a Raj Bhavan.

RR was in media even before he became an RBI governor. He was in news for being in IMF and used to write columns and so on.

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This is quite a game, politics. There are no permanent enemies, and no permanent friends,only permanent interests. - Some Firang

Does anyone miss Raghuram rajan, celebrity Governor going around giving interviews and cute smile and stupid dosa economics? At that time I said, leave the job to practically intelligent people who knows how to get it done instead of collecting big resumes. He was going to control inflation. The one move will help the inflation many times over.